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Cost increases push Macau's CPI up 9.2%
Last Updated(Beijing Time):2008-08-22 14:45

Macau's inflation rate as measured by the Composite Consumer Price Index rose 9.22 percent year on year in July, according to the figures released yesterday by the city's Statistics and Census Service.

The data indicated that the Composite CPI for July reached 125.77, of which the price indices of food and non-alcoholic beverages, health and transport soared 19.97 percent, 14.56 percent and 12.7 percent, respectively.

Despite the substantial increase in price indices of liquefied petroleum gas (up 26.47 percent), charges for maintenance and repair services of dwelling (up 20.65 percent) and rentals for housing (up 14.36 percent), the electricity subsidy provided by the government slowed the year-on-year increment in the index of housing and fuels to 6.72 percent, according to the statistics service.

The Composite CPI reflects the impact of price changes on the general population. The CPI-A relates to about 49 percent of local households, which have an average monthly expenditure of 3,000 patacas (US$375) to 9,999 patacas. The CPI-B relates to about 31 percent of households, which have an average monthly expenditure of 10,000 patacas to 19,999 patacas.

The CPI-A and CPI-B for last month were 127.91 and 125.13, up by 9.57 percent and 9.1 percent, respectively year on year, according to the statistics service.

In addition, the average Composite CPI for January to July this year went up by 9.03 percent over the same period of 2007, while for the 12 months ended July 2008, the Composite CPI rose by 7.99 percent over the preceding period.

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